Yes, as others say, you must not do any of the work for her any longer. But you seem to realize that already or you wouldn't be asking for help.
While I do understand the idea of "let her get a failing grade so she'll get a wake-up call," I also question whether that will really make a difference to her. She doesn't sound like she would care much about an F on a project since she proclaims them "stupid." Only you know her, and we don't. Do you think failing grades on projects would spur her to get them done the next time, or not? If the failure would shake her into doing her work the next time, then go for it. If not, she needs bigger help or middle school will indeed be a nightmare for you both.
Before resorting to completely letting her do it, or not, on her own, it sounds like you might need to help her learn to manage her time. I'm amazed how many kids in elementary school are told by teachers (and parents), "Just do it; here's the day it's due." Kids this age do not yet know how to manage their own time and if left to their own devices will wait until the last second to start a project. They see projects as overwhelming, too much to accomplish, too many steps and parts etc. They need to learn to break it all down into manageable chunks but no one really teaches them to do that.
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Because your daughter is ADD (I assume you have an official diagnosis and the teacher is aware of that--?), I would sit down with the teacher (without your daughter) and explain you want to work with your girl on time management and planning skills for projects. Get the teacher's input. Then sit down with your child AND the teacher and work out a schedule for the next project -- Do these tasks by this day; these other tasks by that day, etc., on a calendar that will go in her room or wherever she must see it daily at home. She should create lists of the supplies she needs for each step and the tasks to complete each step.
I know the teacher has given her due dates on parts of the project. I'm talking here about due dates on parts of those parts, which you deal with at home -- breaking the parts down even further into steps that she does on certain days. Really getting specific about tasks at home.
The tough part will be at home when she has the lists and schedule but just wont follow through. That's when you get to issue reminders at specific times. But do not do any work for her. When the first mini-deadline passes, and she hasn't done the work, you and the teacher need to remind her she now has two deadlines in one on the next deadliine day on her personal schedule.
This may or may not work, frankly. But it's at least giving her a process. If she can learn that a project does NOT have to be some massive, overwhelming thing, and can be done in small pieces, she will carry that skill with her into higher grades.
Does the teacher give enough lead time on projects? My daughter (4th grade) is on the last day of a huge biography project with many components (scrapbook, speech, report, two posters, presentation, dress-up as historical figure, and more) but the students have had about six weeks to work on it all, with rolling deadlines along the way -- all those components were not due on the same day.
Next year -- because it's really a bit too late for much difference in this year -- be sure the teacher gives enough lead time on projects and don't hesitate to talk to the teacher early in the year about the issue with projects and how you are working on more detailed at-home scheduling and want the teacher's support with that.
It also might help for the teacher to sit down with her at the start of the school year and explain that projects are as vital as the other things she is doing more willingly. And -- if she's ADD, is she getting some kind of therapy to help her be more attentive and organized? I know a kid with mild ADD who benefited greatly from therapy that helped him mostly with organization.